Papandreou and Samaras closer select new PM

Note: This section contains information in English only.
Source: Bloomberg
© Scanpix/AFP
Premier George Papandreou and opposition leader Antonis Samaras have made a step closer to name the new prime minister of Greek Unity parliament, said Elias Mosialo, Greek parliament spokesperson. The agreement on new PM is essential in order to secure funding from EFSF. Today the talks will continue in Athens.

 

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Tue, 08 Nov 2011 12:33:41 GMT

EU plans to start rescue financing in December

EU financial leaders are planning to start implementation of bailout programmes in December. Greece is required to deliver written approval of bailout rules to receive EUR  8.0 bn credit in one month. Italy is ordered to bring expenditure cut into reality. According to Olli Rehn, EU Monetary Commissioner, it is crucial for both countries to restore the political confidence.

Tue, 08 Nov 2011 09:30:30 GMT

US banks reluctant to ease lending standards

According to survey done by Federal Reserve, the number of banks that lessened business loan conditions has decreased in the 3rd quarter. Creditors have also squeezed loan terms on debt to European financial institutions and their partners. About 50% of US banks admit they have provided loans to European contemporaries and consider tightening as reasonable strategy amid EU debt crisis. 

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